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Friday, September 01, 2006 12:03:53 PM
"1. This company is not fully reporting and currently unregulated by the SEC thus investors owning more than 5% DO NOT have to file form 13g. "
Patently false; BIGN is a "public company" as defined by the SEC acts of 1933 and 1934 and the fact that it trades on and in a public exchange mechanism called the Pink Sheets. It is not "reporting" but it is most assuredly "regulated" by the SEC.
Oh, and it's a "13d", not a "13g", the "13g" is limited form of the "13d" used by banks and insurance companies:
http://www.ing.com/group/showdoc.jsp?docid=075330_EN&menopt=ivr|sec
Schedule 13D
When a person or group of persons acquires beneficial ownership of more than 5% of the number of outstanding shares in a class of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934, they must file a Schedule 13D with the SEC. The term beneficial owner is defined under SEC rules. It includes any person who directly or indirectly exercises voting power or investment power (the power to buy or sell the security). Amendments to earlier filings are marked with '/A'.
ING’s Schedule 13D(/A) filings at SEC
Schedule 13G
Schedule 13G is a much-abbreviated version of Schedule 13D. This form is only available for use by a limited category of "persons" (such as banks and insurance companies) and even then only when the securities were acquired in the ordinary course of business and not with the purpose or effect of changing or influencing the control of the issuer. Amendments are generally filed on a yearly basis as of the end of the calendar year for as long as the interest stays above 5%. Amendments to earlier filings are marked with '/A'.
Withhold your membership $$$$s and refrain from patronising iHub advertisers until the management of this REDOLENT CESSPOOL finally *DOES* SOMETHING to CLEAN IT UP!
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